Reforms to US Disaster Aid Expose Growing Home Insurance Gap
When disaster hits in the US, the federal government gives aid to states and counties, but also to individuals. In 2022, the Federal Emergency Management Agency delivered $3.25 billion to nearly 1.4 million households recovering from damaging floods and fires. …
Last Chance: Take This Year’s Agency Salary Survey
It’s the final two days to take this year’s Agency Salary Survey. ALL retail agency owners, principals, producers, CSRs — the entire agency — should participate and be a part of the industry’s favorite salary survey. The survey takes about …
White House AI Council Meets as Legislative Action Stalls
The White House artificial intelligence council is meeting Monday, three months after President Joe Biden signed an executive order that aims to reduce the risks AI poses. White House Deputy Chief of Staff Bruce Reed, who will convene the council …
Markets/Coverages: New WTW Cyber Solution for SMEs With Revenue Under $50M
Broker WTW said it has launched a cyber solution specifically for business with annual revenue under $50 million, including startups and pre-revenue accounts. This tailored solution for small- and medium-sized enterprises (SME) is meant to address challenges faces by these …
Seattle Will Pay $10M to Protesters Who Said Police Used Excessive Force During 2020 Protests
Seattle has agreed to pay $10 million to 50 demonstrators who sued over the police department’s heavy-handed response to racial justice protests in 2020, in a settlement announced by attorneys from both sides. The protesters were among tens of thousands …
Oregon Jury Awards $85 M to 9 Victims of Deadly 2020 Wildfires
An Oregon jury awarded $85 million to nine victims of wildfires that ravaged the state in 2020, the latest verdict in a series of legal proceedings that are expected to put the utility PacifiCorp on the hook for billions of …
Howden Acquires UK-Based AHR Consultants to Boost Risk Management Capabilities
Howden, the London-based global insurance group, announced it has bolstered its risk management capabilities in the UK through the acquisition of AHR Consultants, a leading provider of HR, employment law, training and health & safety services. Financial details of the …
Residents Fight Planned Monkey-Breeding Farm in South Georgia
BAINBRIDGE, Ga. (AP) — Some local residents and an animal-rights group are protesting plans for a monkey-breeding facility in southwest Georgia. Opponents recently urged the Bainbridge City Council to block plans by a company called Safer Human Medicine to build …
Hacking Allegations Expose E-Prescription System Cyber Risk
Scammers hacked into doctors’ electronic prescribing accounts, wrote tens of thousands of bogus orders for addictive drugs, then had runners pick them up from pharmacies in multiple states so they could be illegally resold online, prosecutors in New York announced …
Climate Change Poses Significant Risk for South African Insurers: Old Mutual
Climate change poses the most significant threat for South African insurance companies and risks raising premiums and the cost of reinsurance, a top official at its biggest insurer by assets said. After staying almost flat in the decade to 2020, …
Jackie Robinson Statue Stolen From Kansas Park, Sparking Outrage and Police Search
WICHITA, Kan. (AP) — A prized statue of Jackie Robinson was stolen from a public park in Kansas, spurring a police search Friday and outrage across the city of Wichita. The statue honors the first player to break Major League …
Former Allianz Execs Raise Funds for Carbon Credit-Backed Insurance
An insurance start-up founded by three former Allianz executives that aims to guarantee companies buying carbon credits get the permits they’ve paid for has closed the biggest European climate-focused seed funding round in more than a year. CarbonPool raised 10.5 …
Federal Court Fines Nebraska Contractor Who Stalled Investigation Into Employee’s Fall
A federal court has issued an order holding a Nebraska roofing contractor — who has stalled federal investigators for nearly a year — in contempt of court and imposing a fine of $100 a day if he fails to comply …
Brazil’s Government Paves the Way for Insurance-Linked Securities
Brazil’s National Monetary Council (CMN), the country’s highest economic body, granted approval on Thursday for regulations enabling insurers and reinsurers to raise funds from investors through the issuance of insurance-linked securities. The Finance Ministry, whose minister is a part of …
EPA Blocks Access to Louisiana Apartment Complex Due to Cancer-Causing Chemicals
BENTON, La. (AP) — After cancer-causing chemicals were found in the soil at a north Louisiana apartment complex, the Environmental Protection Agency has blocked access to part of the property and will move to abate the situation. The EPA will …
Audit: Incomplete Information Led to Resignation of Minnesota Marijuana Regulator
ST. PAUL, Minn. (AP) — The Minnesota governor’s office did not have complete information about the woman the governor appointed as director of Minnesota’s new marijuana regulatory agency, leading to her surprising resignation after media reports about her financial problems …
North Korean-Linked Hackers Are Targeting Crypto Platforms More But Stealing Less
The number of North Korean-linked hacks of cryptocurrency platforms rose to a record high in 2023, though the actual amount of funds stolen dropped around 40%, a report Wednesday from blockchain analysis firm Chainalysis Inc. showed. In a series of …
HP Enterprise Discloses Hack by Suspected State-Backed Russian Hackers
Hewlett Packard Enterprise disclosed Wednesday that suspected state-backed Russian hackers broke into its cloud-based email system and stole data from cybersecurity and other employees. The provider of information technology products and services said in a Securities and Exchange Commission regulatory …
Family of Florida Woman Killed by Alligator Sues Housing Complex for Negligence
WEST PALM BEACH, Fla. (AP) — The family of a Florida woman killed by an alligator last year as she walked her dog in her backyard is suing the housing complex’s owner, alleging its employees fed the gator and didn’t …
Are Some Florida Workers’ Comp Judges Bending to the Political Winds on Fees?
Attorney fees in Florida workers’ compensation cases seem to be part of a story that will never end, and a state appeals court has added new life to the story with decisions that give support to both sides of the …
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